![ITAT upholds CIT(A) Order Deleting ₹12.92 Crore Income Tax Addition relying on Past Agricultural Purchases to fix 5.02% Gross Profit [Read Order]](https://www.taxscan.in/wp-content/uploads/2025/01/ITAT-ITAT-Ahmedabad-CITA-Order-CITA-Income-Tax-Past-Agricultural-Purchases-Commissioner-of-Income-Tax-taxscan.jpg "ITAT upholds CIT(A) Order Deleting ₹12.92 Crore Income Tax Addition relying on Past Agricultural Purchases to fix 5.02% Gross Profit [Read Order]")
ITAT upholds CIT(A) Order Deleting ₹12.92 Crore Income Tax Addition relying on Past Agricultural Purchases to fix 5.02% Gross Profit [Read Order]
The Ahmedabad Income Tax Appellate Tribunal ( ITAT ) recently affirmed an order passed by the Commissioner of Income Tax (Appeals) ( CIT(A) )...
![Â ITAT Excludes Inter-Branch Transfers from Turnover, Grants Concessional Tax Rate to Power and Instrumentation Ltd. [Read Order]](https://www.taxscan.in/wp-content/uploads/2025/01/ITAT-Ahmedabad-Income-Tax-News-Inter-Branch-Transfers-Taxscan.jpg "Â ITAT Excludes Inter-Branch Transfers from Turnover, Grants Concessional Tax Rate to Power and Instrumentation Ltd. [Read Order]")
![Failure to prove Benefit Alone, not grounds for Transfer Pricing Disallowance: ITAT in Bosch Automotive Electronics case [Read Order]](https://www.taxscan.in/wp-content/uploads/2025/01/ITAT-Banglore-Income-tax-Income-Tax-News-Transfer-Pricing-Disallowance-Taxscan.jpg "Failure to prove Benefit Alone, not grounds for Transfer Pricing Disallowance: ITAT in Bosch Automotive Electronics case [Read Order]")
![ITAT Condones Delay in Appeal Due to serious dispute among Partners, Remands Case for Fresh Assessment with Costs [Read Order]](https://www.taxscan.in/wp-content/uploads/2025/01/ITAT-condones-delay-appeal-serious-dispute-partners-remands-case-fresh-assessment-costs-ITAT-Bangalore-taxscan-1.jpg "ITAT Condones Delay in Appeal Due to serious dispute among Partners, Remands Case for Fresh Assessment with Costs [Read Order]")
![ITAT Dismisses Penalty for Disallowance of Deduction u/s 80IA(4), Citing Assessees Eligibility as Developer [Read Order]](https://www.taxscan.in/wp-content/uploads/2025/01/ITAT-ITAT-Ahmedabad-Penalty-Section-80IA4-of-Income-Tax-Act-Income-Tax-Section-80IA4-taxscan.jpg "ITAT Dismisses Penalty for Disallowance of Deduction u/s 80IA(4), Citing Assessees Eligibility as Developer [Read Order]")
Rejection of 80G Application Due to Incorrect Assumption: ITAT Sets Aside the Matter to CIT(E) [Read Order]
The Ahmedabad Bench of Income Tax Appellate Tribunal (ITAT) set aside the rejection of the 80G application under the Income Tax Act, 1961 by the Commissioner of Income Tax(Exemption) [CIT(E)] due to...
![Rejection of 80G Application Due to Incorrect Assumption: ITAT Sets Aside the Matter to CIT(E) [Read Order]](https://www.taxscan.in/wp-content/uploads/2025/01/Rejection-of-80G-Application-Due-80G-Application-Due-Incorrect-Assumption-ITAT-ITAT-Sets-Matter-to-CITE-CITE-taxscan.jpg "Rejection of 80G Application Due to Incorrect Assumption: ITAT Sets Aside the Matter to CIT(E) [Read Order]")
'CIT(A) has erred in noting the correct facts': ITAT Remands matter for Fresh adjudication [Read Order]
The Chennai bench of the Income Tax Appellate Tribunal ( ITAT ) held that the Commissioner of Income Tax ( Appeals ) [ CIT( A ) ] had erred in noting the correct facts submitted by the assessee and...
![CIT(A) has erred in noting the correct facts: ITAT Remands matter for Fresh adjudication [Read Order]](https://www.taxscan.in/wp-content/uploads/2025/01/ITAT-Commissioner-of-Income-Tax-Income-Tax-act-taxscan.jpg "CIT(A) has erred in noting the correct facts: ITAT Remands matter for Fresh adjudication [Read Order]")
ITAT Grants Trust another opportunity to Rectify Defects in S.12AB Registration Application [Read Order]
The Jaipur Bench of the Income Tax Appellate Tribunal ( ITAT ), has granted the trust the opportunity to rectify defects in Section 12AB of the Income Tax Act, 1961, with regard to registration...
![ITAT Grants Trust another opportunity to Rectify Defects in S.12AB Registration Application [Read Order]](https://www.taxscan.in/wp-content/uploads/2025/01/ITAT-Registration-Application-Section-12AB-taxscan.jpg "ITAT Grants Trust another opportunity to Rectify Defects in S.12AB Registration Application [Read Order]")
ITAT estimates Cheque Discounter’s Taxable Income at 10% of Cash and Other Credit due to Possible Revenue Leakage [Read Order]
In a notable ruling, the Surat Bench of the Income Tax Appellate Tribunal (ITAT) proceeded to estimate the taxable income of a cheque discounter at 10% of the cash and other credit amount disputed by...
![ITAT estimates Cheque Discounter’s Taxable Income at 10% of Cash and Other Credit due to Possible Revenue Leakage [Read Order]](https://www.taxscan.in/wp-content/uploads/2025/01/ITAT-ITAT-estimates-Cheque-Discounters-Taxable-Income-Income-Cash-and-Other-Credit-Credit-due-Revenue-Leakage-taxscan.jpg "ITAT estimates Cheque Discounter’s Taxable Income at 10% of Cash and Other Credit due to Possible Revenue Leakage [Read Order]")
All bank transactions and Credit Entries not Taxable if amounts immediately Debited by Clearance: ITAT upholds Reasonable Estimation [Read Order]
The Surat Bench of the Income Tax Appellate Tribunal ( ITAT ) recently clarified the prominence of reasonable estimation, averring that not all bank transactions and credit entries may be treated as...
![All bank transactions and Credit Entries not Taxable if amounts immediately Debited by Clearance: ITAT upholds Reasonable Estimation [Read Order]](https://www.taxscan.in/wp-content/uploads/2025/01/ITAT-Credit-Entries-Debited-by-Clearance-taxscan.jpg "All bank transactions and Credit Entries not Taxable if amounts immediately Debited by Clearance: ITAT upholds Reasonable Estimation [Read Order]")
Disallowance of Interest Expenses on Alleged Fund Misuse: ITAT Allows Citing Lack of Nexus Between Borrowed Funds and Personal Investments [Read Order]
The Ahmedabad Bench of the Income Tax Appellate Tribunal (ITAT) allowed the interest expenses of the assessee on alleged fund misuse citing that lack of nexus between borrowed funds and personal...
![Disallowance of Interest Expenses on Alleged Fund Misuse: ITAT Allows Citing Lack of Nexus Between Borrowed Funds and Personal Investments [Read Order]](https://www.taxscan.in/wp-content/uploads/2025/01/Disallowance-of-Interest-Expenses-Alleged-Fund-Misuse-ITAT-Assessment-Years-Assessment-CIT-assessment-order-Income-Tax-Return-ITR-personal-investments-AO-Taxscan.jpg "Disallowance of Interest Expenses on Alleged Fund Misuse: ITAT Allows Citing Lack of Nexus Between Borrowed Funds and Personal Investments [Read Order]")